Braze, Inc. (NASDAQ:BRZE) shares closed 9% higher on Tuesday following the company’s reported strong Q1 earnings results and raised guidance.
Quarterly EPS came in at ($0.19), better than the Street estimate of ($0.21). Revenue was up 61.9% year-over-year to $77.5 million, compared to the Street estimate of $72.57 million.
The quarter strength was broad-based and marked by 63% subscription growth and a 20% free cash flow margin.
For Q2/23, the company expects EPS in the range of ($0.19)-($0.20), compared to the Street estimate of ($0.21), and revenue of $80.5-81.5 million, compared to the Street estimate of $80.13 million.
For the full 2023-year, the company expects EPS in the range of ($0.78)-($0.82), compared to the Street estimate of ($0.83), and revenue of $345-349 million, compared to the Street estimate of $340.29 million.